Maiden Holdings, Ltd. (NASDAQ:MHLD) is among the top losers of the stock market today, sinking -3.79% or (-0.02 points) to $0.54 from its previous close of $0.56. Does this decline mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 251609 contracts so far this session. MHLD shares had a relatively better volume day versus average trading capacity of 549.82 thousand shares, but with a 56.05 million float and a -20.42% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for MHLD stock indicates that the average analyst price target is $1 per share. This means the stock has a potential increase of 85.19% from where the MHLD share price has been trading recently which is between $0.5625 and $0.6125. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $1.
The shorts are climbing into Maiden Holdings, Ltd. (MHLD) stock. The latest set of short interest data was released on 28 June 2019, and the numbers show a rise in short interest in MHLD shares. While short interest still represents only 5.08% of MHLD’s float, the number of shares shorted have risen by 120699. The number of shares shorted advanced to 2848061 shares, up from 2727362 shares during the preceding fortnight. With average daily trading volumes at 1157824 shares, days to cover decreased to about 3.79033 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Maiden Holdings: 1Q Earnings Snapshot” and dated May 10, 2019.
During the recent trading session for Maiden Holdings, Ltd. (NASDAQ:MHLD), the company witnessed their stock drop by $-0.11 over a week and tumble down $-0.29 from the price 20 days ago. When compared to their established 52-week high of $8.9, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 07/31/18. The recent low of $0.48 stood for a -93.89% since 06/05/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.9 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Maiden Holdings, Ltd., the two-week RSI stands at 33.67. This figure suggests that MHLD stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current MHLD readings is similarly very revealing as it has a stochastic reading of 4.82% at this stage. This figure means that MHLD share price today is being overbought.
Technical chart claims that Maiden Holdings, Ltd. (MHLD) would settle between $0.6/share to $0.63/share level. However, if the stock price goes below the $0.55 mark, then the market for Maiden Holdings, Ltd. becomes much weaker. If that happens, the stock price might even plunge as low as $0.53 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.06. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at JMP Securities lowered their recommendation on shares of MHLD from Mkt Outperform to Mkt Perform in their opinion released on May 15. JMP Securities, analysts launched coverage of Maiden Holdings, Ltd. (NASDAQ:MHLD) stock with a Mkt Outperform recommendation, according to their flash note issued to investors on August 10. Analysts at Keefe Bruyette lowered the stock to a Mkt Perform call from its previous Outperform recommendation, in a research note that dated back to August 10.
MHLD equity has an average rating of 3, with the figure leaning towards a bullish end. 3 analysts who tracked the company were contacted by Reuters. Amongst them, 3 rated the stock as a hold while the remaining 0 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 0 analysts rated Maiden Holdings, Ltd. (NASDAQ:MHLD) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, MHLD stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/S ratio is 0.03 while for the average stock in the same group, the multiple is 1.02.